5645 E Grand River Ave, Howell, MI 48843

Description

NEW ROOF + TANKLESS WATER HEATER: Turnkey 10-unit multifamily investment property -- fully occupied, cash-flowing, and priced to move at an 11.68% cap rate. This stabilized apartment building in Howell, MI delivers $136,392 in gross scheduled rental income ($11,366/month) and $103,897 in net operating income (NOI), making it an exceptional value-add alternative for the 1031 exchange buyer or passive income investor seeking a low-maintenance, income-producing asset. Unit mix: 3 studio units + 7 one-bedroom/one-bath units -- a diversified, in-demand mix that appeals to a broad tenant base and supports strong occupancy. 100% occupied with a stable, diversified rent roll: a mix of Section 8 / state-paid housing assistance tenants and conventional month-to-month tenants, providing reliable, partially government-backed cash flow with built-in rent stability.Efficiently managed, turnkey operation ??? a new roof and new tankless water heater mean major capex is already handled, minimizing deferred maintenance and near-term capital expenditures for the next owner. Coin-operated laundry adds approximately $30/month in supplemental ancillary income, with room to expand this revenue stream. Month-to-month leases offer the incoming owner flexibility to reposition rents or hold for steady in-place cash flow. Ideal for the buy-and-hold investor, apartment investor, or multifamily portfolio builder looking for immediate returns with minimal management burden. Financials, rent roll, and unit-by-unit breakdown available to qualified buyers upon request. Schedule your showing today!